Well I've never used WebcamMax, but I have used ManyCam, and I hear it's a great alternative to WebcamMax. You can see what ManyCam hast to offer viewing an old video I submitted on my YouTube Channel here about a year, and a half ago.

ScreenCamera.Net is an advanced virtual camera with overlay of images, texts, and support for multiple monitors,
and visual effects. Perfect for professional broadcasts over Skype, UStream, or any service or program that accepts
a webcam. Add your company logo over broadcasts and other visual effects. ScreenCamera.Net supports
multiple monitors and records video file in high definition.
ScreenCamera.Net comes equiped with a powerful scheduler to take timed captures and record files.
I believe ScreenCamera.Net is the closest to CamTwiest there is for Windows.